Closing: Phi

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In rather sad news, it was announced today that Susan Dell's lovely label, Phi will shutter its store, with pre-Spring 2010 being the last collection.

The small-but-mightily excellent Phi, despite being owned by the wife of Dell Computers founder Michael Dell, could not, after all, weather the dismal economic climate, and workers were informed today that the business would be no longer. This is downright tragedy for New York's fashion inner sanctum, whose devotion to the brand bordered on cult-like.

The Phi boutique is located on Greene Street in Soho, and will officially close at the end of next month.